Question

The concept of corporate social responsibility (CSR) refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions and that there should be a bias in favor of decisions that have both good economic and good social consequences. True or false?

Answer 1

Answer:

The answer is true.

Explanation:

Corporate social responsibility refers to the practice of considering the positive impact of an organization towards stakeholders- including employees and interested persons- and society at large. For example, a company that gives adequate pay to its employees- economic efficiency- and also offers organic products- which help maintain a healthy society- is a company that practices CSR, which is evidenced by its economic and social consequences.